Gdp (Noun)
Meaning
The measure of an economy adopted by the United States in 1991; the total market values of goods and services produced by workers and capital within a nation's borders during a given period (usually 1 year).
Classification
Nouns denoting possession and transfer of possession.
Examples
- The country's GDP has been steadily increasing over the past decade, indicating a strong and growing economy.
- Economists use GDP as a key indicator to assess the overall health and performance of a nation's economy.
- The new policy aims to boost the country's GDP by increasing investments in infrastructure and education.
- A nation's GDP is typically calculated by adding up the value of all goods and services produced within its borders during a specific time period.
- The decline in GDP growth rate has raised concerns among policymakers and investors about the country's economic prospects.